Carpetright have reported a pre-tax loss of £70 million for the year ending 28 April 2018. as the struggling retailer's revenue decreased by 3.0% to £443 million. Carpetright agreed to a Company Voluntary Arrangement (CVA) with its creditors in April and is set to close 81 of its stores. In what has been...
JD.com, China’s largest retailer, is expanding its luxury white glove delivery service, JD Luxury Express, which offers personalised delivery by specially-trained JD employees. Clad in distinct uniforms, complete with white gloves, they deliver purchases to customers’ homes in electric vehicles, rather than JD’s usual tricycles and scooters. The...
Virgin Money has received an offer from Clydesdale and Yorkshire Bank (CYBG PLC) to take over the company. The revised offer, valued at £1.6 billion, will increase Virgin Money shareholders' interest in the combined company to 38%, up from 36.5%. The Panel on Takeovers & Mergers has granted an extension to June...
Smith & Nephew PLC (LON:SN) has bought Ceterix Orthopaedics for $50 million, with a further $55 million over the next five years, based on performance. Ceterix Orthopaedics is the developer of the NovoStitch® Pro Meniscal Repair System, a unique device allowing surgeons to repair complex meniscal tear patterns. Brad Cannon, President...

ITV online viewing up 32%

ITV plc have delivered a strong performance in 2018 with online viewing up 32%, driven by mobile devices, connected TV and streaming media players. The ITV Hub (formerly ITV Player), the online home for all of the channels' content, continues to grow rapidly. Available on...
Drive for 'pace and simplicity' results in 4600 UK job cuts Rolls Royce have announced the next stage in their 'drive for pace and simplicity', resulting in the loss of 4600 UK jobs over the next 24 months. According to Rolls Royce's official statement, this is to create a 'simpler, leaner and more...
Unilever (ULVR) has agreed to buy GlaxoSmithKline’s Health Food Drinks (GSK HFD) in India for €3.3bn ($3.8bn). The agreement will increase Unilever's presence in the health-food market in high-growth emerging markets such as India. Horlicks and Boost The deal will see Unilever acquiring the popular hot malted beverage Horlicks and Boost brand, along with other...
Rolls-Royce has agreed to buy the electric and hybrid-electric aerospace propulsion activities of Siemens (the eAircraft business). The acquisition is expected to complete late 2019, following a period of employee consultation. The eAircraft business, based in Germany and Hungary, employs around 180 specialist electrical designers and engineers who have been...
Tesco have almost doubled it dividend to 5.77p per share, a huge 92.3% increase from the previous year. The increase comes after it reported full year pre-tax profits of £1.7bn, a 28% increase from last year, with revenue rising by 11% to £63.9 billion. Tesco stated that, whilst the...
Royal Mail have reported a drop in nine-month revenue with weaker than expected performance in its letters business. Letter volumes fell by 8% with revenue from letter delivery falling by 6%, offsetting a 6% rise in parcel revenue. Royal Mail said the fall in addressed letter volumes reflects the continuing...
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